Saudi Arabia to invest $64 billion in entertainment sector

RIYADH: Saudi Arabia is to invest $64 billion in its entertainment sector over the coming decade, an official said Thursday, as the kingdom pursues a program of social and economic reforms, according to Arab News.

General Entertainment Authority (GEA) chief Ahmad bin Aqeel Al-Khatib said the money will come from both the government and the private sector.

GEA also said that it will build an opera house in Jeddah.

Al-Khatib also said that 500 companies have registered to organize entertainment events in one year, with the authority earlier announcing that more than 5,000 events in 56 cities in the Kingdom were slated in its 2018 entertainment calendar.